Komet Reports Positive Results From Its 2018 Drill Program at Kabaya

QUÉBEC CITY, Sept. 06, 2018 (GLOBE NEWSWIRE) — Komet Resources Inc. (TSX-V: KMT) (“Komet” or the “Company”) is pleased to announce further encouraging results from a reverse circulation (RC) drill program that was completed this year on the Kabaya prospect in the southeastern part of the company’s Dabia South exploration property, located in western Mali, West Africa (Figures 1 and 2).

This RC drilling campaign extended the drill grid north and south of the Kabaya Main zone and completed the drill grid pattern over the Kabaya southwest zone (Figure 3). A total of 3,029 metres in 38, inclined and shallow step-out and infill drill holes (Km2018rc01-38) were realized to a vertical depth of around 65 m and defined gold mineralization with good grade continuity in the thick weathered rock profile (80 m of saprolite; Figure 3, 4 and 5). Gold mineralization systems were initially intercepted in both zones underneath a cluster of soil geochemistry anomalies in previous exploration drill campaigns (Robex Resources 2013–2014 and Komet Resources 2017; Figure 3).

Highlights of the drill results include 1.63 g/tover 17 m from 6 m; 1.06 g/t over 28 m from 30 m in Km2018RC12 and 1.60 g/t over 18 m from 8 m in Km2018rc15 in the Kabaya southeast zones, and 1.26 g/t over 33 m from 45 m in Km2018rc31, located in the northern part of the prospect, one of the last drill holes of the campaign and possibly indicating a new zone of economic gold mineralization.

Highlights From the Kabaya Program—Borehole Km2018rc01 to Km2018rc38:

HoleID

Type

From (m)

To (m)

Drill Width (m)

Weighted Average Grade g/t Au

Km2018rc01

step-out

48

51

3

1.2

Km2018rc12

infil

6

23

17

1.6

Km2018rc12

30

58

28

1.1

Incl.

31

33

2

1.8

Incl.

47

50

3

2.0

Incl.

52

55

3

1.8

Km2018rc12

63

64

1

1.4

Km2018rc13

infil

12

20

8

1.1

Km2018rc13

24

31

7

1.2

Km2018rc13

33

41

8

1.1

Km2018rc15

infil

8

26

18

1.6

Km2018rc17

infil

59

61

2

1.1

Km2018rc19

infil

21

26

5

1.2

Km2018rc20

step-out

28

31

3

2.7

Km2018rc25

step-out

6

14

8

2.1

Incl.

7

11

4

3.8

Km2018rc26

step-out

21

28

7

1.5

Km2018rc31

step-out

17

19

2

1.1

Km2018rc31

45

78

33

1.3

Incl.

45

48

3

3.6

Incl.

50

53

3

1.9

Incl.

54

61

7

2.2

Km2018rc33

infil

68

76

8

2.7

Km2018rc34

infil

0

5

5

2.0

Km2018rc34

63

67

4

1.4

Km2018rc36

infil

60

64

4

1.5

Km2018rc36

68

70

2

2.0

Km2018rc36

76

79

3

1.8

Km2018rc37

step-out

10

20

10

1.2

Km2018rc38

step-out

41

45

4

1.9

*cut-off grade 0.5 g/t; no grade capping applied

** Widths are estimated 70 to 80% of true widths.

“The Kabaya Prospect RC drilling programs continue to provide excellent results and confirm substantial economic mineralization within the saprolite layer. Moreover, the significant gold intercept in hole Km2018RC31 reveals the probable existence of a new mineralized system in the northern part of the prospect. The Company will proceed with the Kabaya drill exploration program with the intention to grow economic resources as well laterally as in depth in bedrock. Furthermore, Komet as an explorer is well underway to provide an important contribution to the development of the Dabia Area as possible new world class gold district,” stated Werner Claessens, President and CEO of Komet.

The 35 km² large Dabia South Exploration Permit is underlain by folded and sheared sequences of metasedimentary and metavolcanic facies, intruded by felsic and mafic plutons, which make part of the southeastern portion of the Paleoproterozoic Kedougou-Kenieba inlier, covering eastern Senegal and western Mali (figure 1). The property is located 15 km east of the north-south oriented regional Senegal-Mali Shear Zone (“SMSZ”). The SMSZ and its associated northeast-trending splay structures are spatially related to several major gold deposits such as Fekola, Loulo, Gounkoto and Sadiola.

Past exploration programs, carried out by other companies in the Dabia area, pointed out geochemical features and litho-structural settings which demonstrated the potential for the discovery of gold mineralization systems. In 1997 a soil sampling survey by Ashanti Mali SA revealed an interesting gold anomalous zone in the vicinity of the village Kabaya, located in the southeast portion of the Dabia permit. In the period 2013–2014 reconnaissance trenching and two small reverse circulation (RC) drilling campaigns, performed by Robex Resources Inc., identified economic gold mineralization. The results of a ground gravimetric survey, realized in 2014, suggest a shear zone controlled geological context. Kabaya gold occurrence could be associated with one of the splay structures of the regional shear structure SMSZ.

Komet continued the exploration drilling on the Kabaya exploration target in 2017 and 2018. Study of drill cuttings, artisanal gold pits and rejects and a few rare outcrops provide indications for a geological setting of quartz-vein stockwork and quartz veins/veinlets in strongly weathered meta sedimentary/volcano-sedimentary units.

All performed drilling (Komet Resources and Robex Resources) on the Kabaya prospect consisted of westward oriented inclined shallow holes (average drill depths of around 80 m), which identified economic mineralization mainly in the saprolite (weathered rock-) layer. Two mineralization zones appear, Kabaya main and Kabaya southwest, stretching at the surface over lengths of respectively 350 m and 150 m (figure 3). The gold mineralization remains open at depth in bedrock, underneath the saprolite layer, and laterally to the west of the Kabaya southwest zone (figures 3, 4 and 5). Hole Km2018rc31 intersected 33 m of economic mineralization in the northwest part of the Kabaya prospect and probably reveals a new resource zone.

A complete list of gold mineralized drill intercepts from boreholes Km2018rc01 to Km2018rc32 is provided as Exhibit 1 to this Press release.

Drilling supervision and sampling at the drill site were performed by Komet’s qualified technical staff, supervised by Jacques Marchand, P.Geo. Sample preparation, analytical testing and reporting of quantitative assays for the results reported in this press release were realized independently by the SGS Laboratory in Bamako, Mali. Fifty grams of pulverized material was analyzed for gold via Fire Assay with an atomic absorption spectroscopy (AAS) finish. A system of blanks, standards and duplicates were added to the sample stream to verify accuracy and precision of assay results, supplementing a variety of internal quality assurance/quality control (QA/QC) tests performed by SGS. The QA/QC program and the processing of results was designed by Pascal van Osta, P.Geo according to NI 43–101 regulation standards and best industry practices.

The technical information in this document has been reviewed and approved by Pascal van Osta, P.Geo., Vice President Exploration, who has experience with the style of mineralization under consideration and is a Qualified Person under NI 43–101.

About Komet Resources
Komet Resources Inc. is a Canadian-based gold mining and exploration company, listed on the TSX-V, with a focus on exploration and production at its projects in Burkina Faso and Mali, West Africa.

Qualified Person’s ReviewQuality Assurance / Quality Control

The drill program and sampling protocol were managed by Komet under the supervision of Jacques Marchand, P.Geo. The reverse Circulation drill holes are drilled at 4-inch sizes. After the cyclone, the entire material corresponding to 1 m interval is collected and divided with a Jones Riffles splitter type to get a 2–3 kg sample. Analytical testing and reporting of quantitative assays for the Kabaya results reported in this press release was performed independently by SGS Mineral Mali SARLU accredited by SANAS and conforms to the requirements of ISO/IEC 17025:2005 for specific tests as indicated on the scope of accreditation to be found athttp://sanas.co.za/. Gold analyses reported in this release was performed by standard fire assay (FA505) using a 50-gram charge with atomic absorption finish. A system of blanks, standards and duplicates were added by the Company to the sample streams to verify accuracy and precision of assay results, supplementing a variety of internal QA/QC tests performed by SGS Minerals. The samples were securely transported by Komet personnel from the project site to the SGS sample preparation facility in Bamako, Mali.

Forward-looking StatementsNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Komet’s control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated resources, environmental risks (stricter regulations), unforeseen geological situations, unfavourable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Komet. The forward-looking information is based on the estimates and opinions of Komet’s management at the time of the publication of the information and Komet does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.